America’s Hottest Housing Markets Are Actually Some of Its Coldest

For the sixth month in a row, America’s hottest housing markets are actually some of its coldest. Formerly desirable western and southern markets are nowhere to be found in Realtor.com’s most recent 20 Hottest Markets rankings. Instead, the most in-demand markets in November were located predominantly in the chilly Midwest and Northeast, led by Manchester, NH, an affordable alternative to nearby Boston.

Nabbing second on the list was Rochester, NY, where the typical home sold was just $226,000 in November. The Northeast accounted for a total of nine spots on November’s Hottest Markets list, dominated by prime homebuying locations in states like Massachusetts, New York, Connecticut, and New Hampshire, Realtor.com reports.

Cash-strapped buyers also flocked to the mighty Midwest, with Indiana capturing the most spots—a total of three—on the Hottest Markets list.

Bargain-hunting home shoppers were drawn to Fort Wayne (No. 5), Lafayette (No. 17), and Elkhart (No. 18), which all had homes priced at $302,000 or less. That’s more than $100,000 below the national average.

And as rising inflation gnaws away at household budgets, home shoppers wasted no time when they found an affordable home. Homes in the hottest markets were snapped up 25 days faster than the average property.

PB Topical Ref